Elanpro FY23 revenue rises 74% to ₹220 cr. on better demand for commercial refrigeration equipment

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Elanpro Group, which sells commercial refrigeration products, has posted a 74% growth in its revenue at record ₹220 crore during the last fiscal on better demand.

Its revenue stood at ₹125.80 crore in the previous financial year.

Elanpro has refrigeration products catering to hotels, restaurants, cafes, supermarkets, QSRs and pharma industries.

The total sales stood at 72,000 units in FY23, Elanpro said in a statement.

“We delivered record net sales of ₹220 crore amidst rocky market conditions,” said Shashank Joshi, Director, Elanpro.

The company adopted various strategy including amalgamation of its new acquisitions and fresh brand identity to achieve better growth.

During the last fiscal year, the company got fresh contracts of about ₹80 crore.

The company said it recently launched a new series of energy-efficient freezers, coolers and ice machines for foodservice industry.

It aims to create a sustainable ecosystem of diverse cooling products catering to food and beverage businesses of different sizes.

The company plans to increase its existing touchpoints to 1,500 from the current 700.

“We will continue to elevate professional refrigeration experience with industry knowledge, cutting-edge technology and innovative solutions. We are working towards developing a well-rounded portfolio catering to every Indian customer aspiring to open a restaurant, café, hotels, ice-cream parlour and F&B retail outlet,” Mr. Joshi said.

The commercial refrigeration product segment is estimated at over Rs 5,000 crore market and the company is aiming a significant share controlled by both unorganised and organised players, the statement said.